NEW YORK — U.S. stocks are holding near their record levels following an eight-day winning streak. The S&P 500 was down less than 0.1%. The Dow Jones Industrial Average fell 0.1%, and the Nasdaq composite slipped 0.1%. Palo Alto Networks rose 4% after the cybersecurity company became the latest big business to report stronger-than-expected results for the latest quarter. The company behind Hawaiian Airlines soared 11.
Shares in Lowe's fell modestly, less than 1%, after the hardware store chain beat profit expectations but missed sales targets and lowered its full-year guidance. That would be the first such cut since the Fed began hiking rates drastically in early 2022, hoping to slow the economy by enough to stifle inflation but not so much that it causes a recession. With inflation slowing from its peak above 9% two summers ago, Fed officials have already hinted cuts to rates are coming. The biggest question is whether the economy just needs the Federal Reserve to remove the brakes or if it needs more acceleration and deeper cuts.
At midday in Europe, France’s CAC 40 added 0.1%, while Germany’s DAX slipped 0.1%. Britain’s FTSE 100 fell 0.8%. Investors are closely watching the euro-zone inflation data set to be released later Tuesday.
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